Monday, 16 June 2008

Position update

Here are the trades I am currently active in:



Long USD short 3m Euro at average of 1.5160

Current rate 1.5425: loss

STILL watching and waiting for a turn in the EUR/USD back below 1.4500.

Long USD1m short JPY at 106.30

Current rate 108.40: Gain

Not sure how this will work out yet, so keeping position to USD1m at this stage.


Cut the AUD1m long at 0.9500 and took a gain of AUD82,105.26 (Not counting carry interest)

Total gains to date this year:

Next trade:
Looking to buy NZD1m sell AUD on a move into the 0.7800 - 0.7900 area.

Tuesday, 10 June 2008

Currency stuff

The USD looks to be gaining ground on the back of comments from various US officials, now worrying about inflation.

Sub prime is so yesterday's news. Now the Fed is worried about the USD weakening further, and the impact on inflation as a result.

Ultimately they can intervene and raise interest rates in the US if they have to, and traders know this.

This is moving the USD to strength against the Euro (at last, given I have bought USD3m!) and also against the Yen.

So have bought USD 1m and sold Yen today at 106.30. Also cut the AUD1m long position today at 0.9500 and banked the gains (went long at 0.8720).

So only have USD long positions now against Euro and Yen.

Will blog on updated positions and total gains to date on the weekend.